Bitcoin ETFs hits 15-day streak with a $6.7 billion Inflow

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As a seasoned financial analyst with over two decades of experience, I have witnessed the evolution of the global financial market from the dot-com boom to the 2008 recession and beyond. The surge in U.S. spot bitcoin ETFs is an unprecedented event that has caught my attention. With a career marked by observing bullish and bearish markets, I must admit, this streak of high inflows into Bitcoin ETFs is quite impressive.

In a favorable development, U.S. spot bitcoin ETFs have seen an unprecedented surge for fifteen consecutive days, attracting inflows totaling over $6.7 billion as of November 27 – December 18. This impressive run has undoubtedly contributed to Bitcoin’s price reaching new heights.

Over this period, a new high of $766.66 million in inflows was observed on December 5, primarily through Bitcoin Exchange-Traded Funds (ETFs).

As a researcher, I observed an unprecedented spike in interest that mirrored Bitcoin’s historic leap beyond the $100,000 threshold for the first time. This significant milestone not only fueled increased trading activity but also propelled the total assets under management in Bitcoin ETFs to a staggering $115.78 billion, marking a substantial increase from its previous figure of $104.32 billion.

The surge in Bitcoin’s value, largely driven by factors like escalating global political conflicts and potential victory of former President Donald Trump in the 2024 US elections, has played a significant role in the expansion of Bitcoin Exchange-Traded Funds (ETFs).

In January 2024, the introduction of Bitcoin ETFs helped draw traditional investors towards the cryptocurrency market.

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2024-12-19 10:12